On July 10, Servotronics, Inc. And Its Subsidiary, The Ontario Knife Company Entered Into An Asset Purchase Agreement With Blue Ridge Knives, Inc, Pursuant To Which Buyer Has Agreed To Purchase Substantially All Of The Inventory For A Price Of Of $2.1M

Author: Happy Mohamed | July 13, 2023 11:50am

- SEC Filing

On July 10, 2023, Servotronics, Inc. (the "Company") and its subsidiary, The Ontario Knife Company ("OKC"), entered into an Asset Purchase Agreement (the "Asset Purchase Agreement") with Blue Ridge Knives, Inc. (the "Buyer"), pursuant to which, upon the terms and subject to the conditions thereto, Buyer has agreed to purchase substantially all of the inventory, intellectual property assets, tangible personal property and goodwill of OKC (the "Business") for an aggregate purchase price of $2.1 million, subject to adjustment based on inventory values at closing (the "Transaction").

Posted In: SVT